Taiwan has decided to donate 2 lakh US dollars to the South American nation of Chile. The announcement was made after an 8.8 magnitude quake hit some parts of the country on Saturday morning.

According to news sources, aroun 700 people had lost their lives in the earthquake.

While talking to reporters, Taiwan's foreign ministry said, Taiwan's donation is to assist with reconstruction efforts in Chile. Moreover, Taiwanese President Ma Ying-jeou said, "Taiwan's rescue teams were on stand-by. But Chile has politely declined any foreign rescue assistance."

In the meantime, the majority of the estimated 1,300 overseas Taiwanese living in Chile have been reported safe.

However, the country's foreign ministry has not contacted three of the six Taiwanese expatriates living in the devastated southern city of Concepcion owing to lack of phone service in that part of the country.

Further, the quake's epicenter was situated very close to Concepcion.

As per Taiwanese national living in Chile, "The situation in the capital city of Santiago was recovering despite constant aftershocks". He also added that the situation in the south was more dangerous as compared to the 921 earthquake in Taiwan.